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Tuesday, 23rd September 2008 (1041 views)

Rimfire Minerals has announced that drilling has begun on its recently-discovered gold target at the Boulevard property near Dawson City, Yukon.

The firm is working in partnership with Northgate Minerals at the site after gold mineralisation was encountered in the area during exploration over the summer.

One hole from this programme intersected a 7.04 g/t gold across six metres and another trench returned 6.43 g/t gold across two metres.

Soil sampling and a geophysical survey have commenced on the project to refine targets and expand the exploration area.

Earlier this month, Northgate Minerals revealed that newly-defined mineral reserves at its Stawell gold mine in Victoria, Australia, stood at 140,000 ounces of gold.

This will extend the life of the mine by an extra 18 months, the company added.

President Ken Stowe remarked: "These exploration results confirm what we believed from the very beginning, that there are many more years of life left at the Stawell mine."

 

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